Blend Images – Jade | Getty Images An increase in spending by “young free spenders” in China are helping the local fitness industry, according to McKinsey’s bi-annual survey of the consumer released Thursday. Despite U.S.-China trade tensions and a slowdown in domestic economic growth, these so-called young free spenders “have significantly boosted their purchases” from
Finance
A booth of Micron Technology at an industrial fair in Frankfurt, Germany. Kai Pfaffenbach | Reuters Check out the companies making headlines after the bell: Shares of Micron jumped 4% during extended trading after the chipmaker posted a first-quarter beat on the top and bottom line. Micron earned 48 cents per share excluding certain items
John Williams, president and chief executive officer of the Federal Reserve Bank of New York, speaks during the Central Banking Forum on the sidelines of the International Monetary Fund (IMF) and World Bank Group Annual Meetings in Nusa Dua, Bali, Indonesia, on Wednesday, Oct. 10, 2018. SeongJoon Cho | Bloomberg | Getty Images The Federal
A button for launching the Netflix application is seen on a remote control in this photo illustration in Warsaw, Poland on April 25, 2019. Jaap Arriens | NurPhoto | Getty Images Check out the companies making headlines in midday trading. Netflix — The streaming giant’s stock rose more than 3% after the company disclosed figures
A FedEx plane is parked at Ontario International Airport on February 4, 2019. Check out the companies making headlines after hours on Tuesday: FedEx — Shares of the shipping giant fell nearly 7% in extended trading on Tuesday after the company posted weaker-than-expected earnings. In the company’s second quarter, FedEx reported adjusted earnings per share
A man browsing the channel selections on TV at his home in Las Vegas. Getty Images In 1996, Bill Gates said “content is king,” and his words became a truism in the media and telecommunications industry. But over the last ten years, it turned out that content distributors — AT&T, Verizon, Comcast and Netflix —
National Economic Council Director Larry Kudlow maintained a cautious optimism around the trade agreement struck by China and the U.S. He told CNBC’s “Power Lunch” on Friday the deal should lift business confidence, but “we will see how it works. We will see if the Chinese stay with their word.” China and the U.S. agreed
China has been uncharacteristically quiet ever since news broke that the U.S. had agreed to a phase one trade deal in principle with the Chinese. But that will change soon on Friday. Chinese officials are set to hold a press conference regarding the trade talks on Friday, at 10:30 p.m. Beijing time and 9:30 a.m.
Traders work on the floor at the New York Stock Exchange. Brendan McDermid | Reuters With trade tensions toned down, stocks have clearance to rally into year-end, a traditionally positive time for stocks. Stocks surged to record highs in the past week, as the U.S. and China moved to announce a phase one trade deal
President Donald Trump speaks to reporters in Washington, December 7, 2019. Erin Scott | Reuters The trade deal agreed to by the U.S. and China diffuses tensions between the world’s two largest economies, and could help boost corporate profits and the global economy next year, analysts say. That would be a positive for stocks and